*More MySpace layoffs coming


myspace_small.jpgADOTAS — The news that the social network has laid off 30 percent of its staff, about 420 people, was not surprising.

Updated news below.

Reducing, what some said was a bloated company, down to 1,000 employees can only be the first step. CEO Owen Van Natta says the company needs “to return to an environment of innovation that is centered on our user and our product.”Now its easy to spin a massive layoff as ‘making the company more efficient,’ but will it help MySpace overtake Facebook as the leading social network. I asked one of the earliest employees at MySpace, now SodaHead founder, Jason Feffer, what happened with MySpace, but more importantly what does it need to do to regain its stature or even will it be able to. His basic observation was the company needs to innovate, quickly, and it has the talent to do it. But it depends on what direction the current leadership takes. (If the video interview below disappears, here’s the url. )

*UPDATE: According to SIA, more MySpace layoffs are coming as well as a wholesale restructuring of Fox Interactive Media.


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